Eurozone Q1 2019 GDP up by 0.4% and European Union Q1 2019 GDP up by 0.5%; Italy out of Recession

Seasonally adjusted GDP rose by 0.4% in the Eurozone or Euro area (EA) and by 0.5% in the European Union during Q1 (first quarter) of 2019, compared with Q4 2018, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.

Compared with Q1 2018, seasonally adjusted GDP rose by 1.2% in the Eurozone and by 1.5% in the European in Q1 2019, as in the previous quarter.

In Q4 2018, GDP had grown by 0.2% in the Eurozone and by 0.3% in the European Union. 2018 annual GDP growth at 1.8% for the Eurozone and 1.9% for EU.

Italy out of Recession

The Italian economy returned to growth in the Q1 2019, after two consecutive quarters (Q3 2018 and Q4 2018) of negative growth had caused it to enter a technical recession.

Q1 2019 Italian GDP was up 0.2% as compared to Q4 2018 and up 0.1% as compared to Q1 2018 according to Italy’s national statistics bureau ISTAT.

The unemployment rate in Italy fell in March, dropping to 10.2% from 10.5% and the youth unemployment rate fell to 30.2%, its lowest level since October 2011.